New Trends and Techniques in Cost Accounting

July 2022 | 16 pages | ID: ND8D13CF1105EN
Sadia Saeed

Abstracts

The change in the needs of the advanced and modern business world makes changes in the costing techniques and concepts. There are different advanced costing methods that are currently adopted by the companies. New trends like Target costing, Just in Time and the Balanced Scorecard are the appropriate techniques of costing for the modern world of accounting and finance. In the final report we focus on identification and explanation of the new and modern costing concepts such as Target costing, Just in Time and the Balanced Scorecard in the opinion of different researchers. We will concentrate on elaboration of definition of the new trends in cost, their adaptability and application and the advantages and disadvantages associated with each of the technique. (Continued...) Wordcount of report: 4000 words

Contents

Introduction
TARGET COSTING
Application of Target Costing
Concepts of Target Costing
Pros and Cons of Target Costing
JUST IN TIME
Application of Just in Time
Pros and Cons of Just in Time
BALANCE SCORECARD
Pros and Cons of Balance Scorecard
Application of Balance Scorecard
References
Evaluation
Strategic plan of NBK
References